Laws and sections by number or title, due dates, pages, and updates.
The Central Government notifies specified income of the Gujarat Real Estate Regulatory Authority for income tax exemption under section 10 clause 46 of the Income-tax Act, 1961. The exemption applies to grants or loans from the government, fees or penalties from builders, developers, agents, or stakeholders, and interest earned on those amounts. The Authority must not engage in commercial activity. The activities and the nature of the specified income must remain unchanged throughout the financial years. The Authority must file a return of income under section 139 sub-section 4C clause g. The notification applies for the financial years 2022-2023, 2023-2024, 2024-2025, 2025-2026, and 2026-2027.
What you must do
Key dates
Law this touches
Who is affected
Exceptions
Ask about this notification
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 20th April, 2022
S.O. 1881(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Gujarat Real Estate Regulatory Authority’ (PAN AAAGG1260R), an Authority constituted by the State Government of Gujarat, in respect of the following specified income arising to that Authority, namely:-
[Notification No. 35/2022/F. No. 300196/7/2022-ITA-I] SOURABH JAIN, Under Secy.
